Need opinions on cost to potentially finish a half-built house

[SC Maintenance]

Around 6 months. The owners were subcontracting out most of the work.

So there was no general contractor? That could be its own set of problems. Who was making sure the sub's were actually doing things correctly?

Also, you have cash to finish it. My guess is construction loans are drying up, given real estate isn't going up anymore and interest rates are rising. If not then the first discussion likely needs to be with a banker.

If this is a rip snorting deal someone in the business would likely have acquired it already, no?

 

[BMWTurboDzl]

Is that a cinder block foundation? You gotta get a foundation company out to evaluate the site and the foundation.

Looks like a raised slab. Block is very common in Florida.

 

[PimTac]

I haven't seen new Pier & Beam homes built around here in my lifetime, While my home is Pier & Beam....It's over 100 years old.

I don’t think any pier and beam construction would meet codes especially in earthquake prone regions. It’s been a while since I’ve had any experience but the standard is J bolts sunk into the foundation and bolted to the sill plate.

 

[mk378]

would not touch it unless they got it for the price of the land and nothing else.

Yes. The unfinished house is likely to be a liability not an asset.

 

[andrew_j]

The short is you are buying some land with well and septic with a mostly finished garage and a large shed.

It should be priced accordingly with step discount because no bank will finance this as conventional mortgage.

 

[FZ1]

Looks like a raised slab. Block is very common in Florida.

Never seen a slab blocked over here. We have P&B or Slab.

 

[FZ1]

I prefer P&B. Easier to work on and hurts less when I fall down.

 

[SaberOne]

I’ve had a $60k kitchen remodel project I want done, and I can’t get any contractor in my area to touch it. Been looking for months. What I hear from builders is that remodels are more trouble than they’re worth. One guy said they can put up a spec home in about the same time as remodeling a kitchen. Said there’s so much finish work involved, and they don’t really want to do it.

 

[4WD]

Never seen a slab blocked over here. We have P&B or Slab.

I know a guy who did slab in cinder block to keep mature trees closer to the house and gain elevation from flooding …
Know another guy who did it to get above average storm surge …

 

[BMWTurboDzl]

Never seen a slab blocked over here. We have P&B or Slab.

Ya. I only see it in Florida when talking new construction.

My WAG is that the house was raised to provide better drainage away from the structure. I've seen it done w/out an attached garage and poured concrete forms.

 

[brianl703]

Breaks can occur but it's extremely rare and the slabs don't move.

As long as it's not polybutylene pipe embedded in that slab. Mom's house has that crap (in fact both of my parents managed to buy houses in Virginia with that crap; I've owned 3 houses in Virginia and not a one has that stuff) and in her house TWO pipes in the slab have failed.

 

[BMWTurboDzl]

As long as it's not polybutylene pipe embedded in that slab. Mom's house has that crap (in fact both of my parents managed to buy houses in Virginia with that crap; I've owned 3 houses in Virginia and not a one has that stuff) and in her house TWO pipes in the slab have failed.

Agree. Thankfully polybutylene hasn't been used in decades. It's Copper, PEX, and PVC.

 

[GON]

I’ve had a $60k kitchen remodel project I want done, and I can’t get any contractor in my area to touch it. Been looking for months. What I hear from builders is that remodels are more trouble than they’re worth. One guy said they can put up a spec home in about the same time as remodeling a kitchen. Said there’s so much finish work involved, and they don’t really want to do it.

Your post likely identifies a major issue for the OP. Likely hard to even have contractors come out for quotes.

Huge risk equals potential reward, but the buyer of this home better know what they are getting into. As others have mentioned, if this was a easy deal, the home would have been gone in hours, especially in Florida.

 

[SeaJay]

View attachment 158510View attachment 158511

Greetings and Happy Memorial Day,
We are thinking about putting an offer on this house and property. My question is, what do you all think it would take to finish out this house?

Facts -
1 story
4 bed, 3 bath
2500 sq feet
Foundation and framing are complete
Rough plumbing is complete
Windows and doors installed, minus garage doors
Septic and well are installed

And that's it. No electrical or interior anything.

What do you think is a ballpark estimate to finish this? Including the grading and paving of yard and driveway. I thought maybe around 100k, do you think it could be closer to 200k? Assume regular grade materials inside and nothing weird or fancy.

I welcome all opinions.
Thanksr
Pete

If building for yourself and the family, regular grade materials and nothing fancy sounds like a great plan.

However, when it comes time to order the materials, cabinets, closets and appliances there is a good chance it turns into things quite a bit more expensive than these initial plans.

If building to flip, then you have the correct plan.

 

[eljefino]

A gut & remodel house will also come with a certificate of occupancy. This half baked thing could be in arrears for inspection, and anything you do to the electrical and plumbing will have to be to code, likely inspected, and probably involving licensed contractors.

Are you hoping to put sweat equity in or just act as financier and GC?

 

[Dave Hess]

Tons of headaches and problems buying that unfinished house.

Buy a $350-400K finished home that is basically ‘turn key’….

 

[Pew]

I'm no expert but whenever I see something this big and expensive just stop and no company/person buys it, I always wonder "what's wrong with it.". Especially in this housing market.

 

[Dave Hess]

if you aren't in the building business, best bet is to stay away from it.. I live in SWFLA, my extended family is in the home construction business( mostly in Marion County now ) and I know they would not touch it unless they got it for the price of the land and nothing else. FWIW there are two houses on my street that the builders stopped working on, One of them is unoccupied and it construction started on it in 2010... there is another one on my street that one bonehead started building5 year ago ( I met him a couple times, more I talked to him the more I knew he didn't know the difference between his butt and a hole in the ground) and it has since changed hands a couple time and still isn't finished so its worth saying if you aren't involved in the business you have no idea what sort of mess legal and otherwise is involved in this sort of thing. It probably has liens on it from previous people who did some work and didn't get paid, it probably has cloudy title too.. I wouldn't touch it.. the Floriduh building business is full of con artists and knuckleheads who are in over their heads, don't join them.

Yep. The builder has tons of unpaid materials and has lots of liens.

This house will be an endless money pit.

 

[chrlsful]

Pier & Beam?

post'n beam as apposed to 'poll building'.

 

[chrlsful]

"...what do you all think it would take to finish out this house?..."
reminds me of the guy on the car forum that said "what's the best engine for my car?"
Need lots more info:
where is it? (hi cost area, low; number of tradesmen, etc) will U do the wrk? how soon need to move in, will it need top furnishings, appliances (hvac, stove refridg, concrete drive, etc) or contractor grade? Is it a starter home 4U or will U keep it life long? etc, etc.

We'd call this 'weathered in' (not sure on the roofing @ this point tho so may B not?) or 'buttoned up'. Way less than 1/2 the expenses committed at this point.
A good point to take over in some ways. 1st I'd put upa blower door and complete the shell B 4 moving much forward (can really geta good envelope completed w/air sealing right now, not any other point). A #1 priority.
All the important decisions except for sighting (for solar gain) are left (& fenestration decisions). Far from a blank canvas but can B "make ur own" from this point.
My dad bought his 1st this way, unfinished. Able to make alota decisions but not as many as needed here. Take a look at the prints to see what the ideas were from here. Gather all da info U can. Nota 1X mtg, a one'n done.

Assure ALL the details are known (from clear title and issues of survey site or no need to health of every component there now). Contact NAHB for a friend in need if unfamiliar w/home building, it's not like buying a car~